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Compute Tyrone PII tax

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Reference no: EM132663452

Problem - TyroneCo, an S corporation with a positive E & P balance, reports gross receipts for the year totaling $400,000 (of which $200,000 is PII). Expenditures directly connected to the production of the PII total $80,000. Compute Tyrone's PII tax.

Reference no: EM132663452

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